Revival of Business in Australia

Southland Times, Issue 13671, 5 February 1897, Page 3

Revival of Business in Australia

. The Sydney Morning Herald of 19th ult., gives the * following paragraph and comments upon it in its leading columns I' « We are informed that the new business x , of the A.M.P. Society for the year just past amounts to considerably over L 3,000,000 sterling. This shows a progressive increase during the last three years, and may fairly be regarded as an indication of revived prosperity throughout Australasia. In five out of the seven colonies considerable increases have been made over the business done in 1895, while in the other two the decrease has been comparatively small.” " The public always takes a pride in the extension of the Australian Mutual Provident Society, not only because so many are members and therefore interested in its prosperity, and because it is a model of selfhelp on the grand scale, but also because it is one of the few institutions of this colony that have become truly intercolonial in their scope. It is' stated in our commercial article that last year’s business of the society reaches three millions sterling; but more important even than this total is the fact that in five colonies the business has largely increased. If it were no more than the increased business of any firm or company this would be a gratifying fact; it becomes still more satisfactory when we consider how intimately connected life assurance is with the prosperity of the community. In hard times one of the earliest investments or properties to be sactiflced is the life policy. Either the surrender value is realised or the policy lapses through nonpayment of premiums., That takes place in spite of the more liberal conditions of the modern policy.' But with better times not only are existing policies more carefully maintained, but many more people are found to propose assurance. The class from which assurers are drawn represents the thrifty and the provident, among whom an improvement in circumstances affecting the whole ‘ public is likely first to be observed. In our own colony such (indications as the general observance of holidays, the prevalence of employment, and greater expenditure, attest the improvement in the condition of the people, so that we are prepared to learn that in New South Wales the society has had a satisfactory year.